When a new domain is registered, an EPP code is generated and saved at the global registry. When a new domain transfer is ordered, the "authorization key" or "EPP key" is required for each domain name. As Per ICANN regulations, a verification email or fax transfer authorization is also required.
EPP stands for Extensible Provisioning Protocol. It was created by the registrars to assist and secure domain transfers for the following extensions.
.org
.info
.biz
.us
.com.cn
.net.cn
.org.cn
.cn
.tw
.jp
.in